Timeline: The PeopleSoft acquisition trail

SearchCRM.com examines the history of Oracle's acquisition of PeopleSoft -- from buying J.D. Edwards to the tendering of shares.

To add some perspective to the Oracle-PeopleSoft saga, SearchCRM.com takes a step back and looks at all the merger

and acquisition activity, day by day.

2004

Dec. 13

PeopleSoft relents and accepts Oracle's sweetened offer of $26.50 per share.

Nov. 20

A majority of PeopleSoft shareholders met Oracle's deadline and agreed to tender their shares.

Nov. 10

PeopleSoft's Board again spurns Oracle telling shareholders to do the same.

Nov. 1

Oracle makes its 'last and final offer' for PeopleSoft, raising the tender offer from $21 to $24 per share.

Oct. 11

PeopleSoft continues to integrate J.D. Edwards technology, forcing some users to migrate.

Oct. 1

The Department of Justice drops its plans to appeal the U.S. District Court's decision.

PeopleSoft fires CEO Craig Conway citing a lack of confidence.

Sept. 21

At its annual user conference, PeopleSoft announces a partnership with IBM as it continues to fend off Oracle.

Sept. 13

The U.S. District Court decision leaves users of J.D. Edwards technology on the iSeries wondering what will happen to them.

Sept. 10

Even though PeopleSoft still vows to fight the takeover, some of its customers ponder the software vendor's future.

Sept. 9

A federal judge rules that Oracle's takeover would not violate antitrust rules, though several obstacles stand in the way of a PeopleSoft acquisition.

May 20

Less than three weeks until the Oracle-Department of Justice case goes to court, the proposed witness lists are public and it's becoming clear which arguments each side will make.

May 14

Oracle lowers its offer for PeopleSoft to $21 per share, saying the new bid reflects the company's value.

Feb. 27

Oracle vows to fight the Justice Department in court.

Feb. 26

The U.S. Department of Justice files suit to block Oracle's hostile takeover bid for PeopleSoft.

Feb. 11

Staffers at the Department of Justice recommend that the takeover be blocked on antitrust grounds. A final ruling is expected in early March.

Feb. 4

Oracle increases its cash offer to $26 per share, roughly a 19% premium over the current price of PeopleSoft stock. The takeover is now valued at $9.4 billion.

2003

Dec. 19

For the sixth time, Oracle extends the takeover deadline, giving antitrust authorities more time to weigh in.

Nov. 24

Oracle stands by the PeopleSoft deal, holding a conference call to reaffirm its commitment to the takeover and question the impact of PeopleSoft's customer rebate plan.

Nov. 19

PeopleSoft extends its customer refund program through the end of the year.

Nov. 17

The European Union Commission announced it will launch a four-month investigation into the proposed takeover, ruling that the bid requires "further analysis."

Oct. 10

As both sides wait for antitrust authorities to weigh in, Oracle extends the deadline for PeopleSoft shareholders to tender their stock to Dec. 31. It's the fifth such extension.

Sept. 15

At PeopleSoft's annual user event, CEO Craig Conway jokes about rival Larry Ellison before thanking customers for sticking by PeopleSoft during a tough time.

Sept. 10

At OracleWorld, executive vice president Chuck Phillips said Oracle is committed to acquiring PeopleSoft but won't raise its price.

Sept. 4

In a meeting with financial analysts, PeopleSoft confirmed it will run three separate product lines as a result of the J.D. Edwards acquisition. It also upped financial estimates and said layoffs would occur.

Sept. 3

Oracle hosts another meeting to get PeopleSoft customers to back the takeover.

Aug. 13

PeopleSoft revises its lawsuit against Oracle and alleges new facts about unfair trade practices.

Aug. 26

PeopleSoft brings back its customer assurance plan. The money-back program helped drum up business immediately following the Oracle takeover bid.

Aug. 8

Oracle extends the deadline for PeopleSoft investors to tender their shares to Sept. 19, the third time it has changed the offer's expiration date.

July 18

PeopleSoft said it has completed its acquisition of J.D. Edwards, making Oracle's takeover bid more difficult.

July 17

Oracle takes its case to PeopleSoft customers, hosting an online meeting to field questions. PeopleSoft posts solid quarterly earnings and expects its J.D. Edwards acquisition to close very soon.

July 14

The government clears the way for PeopleSoft to acquire J.D. Edwards, ending the antitrust waiting period. Meantime, Oracle extends its tender offer deadline to Aug. 15.

July 3

Oracle extends the deadline for PeopleSoft investors to tender their shares until July 18.

July 2

PeopleSoft surprises Wall Street with preliminary quarterly earnings that beat analyst estimates. CEO Craig Conway credits superior products, customer confidence and anger against Oracle.

June 30

Federal antitrust regulators ask for more information regarding the takeover bid. Oracle also plans to contact each of PeopleSoft's 5,100 customers.

June 24

SearchCRM.com releases results from exclusive research showing a majority think if Oracle acquires PeopleSoft, business applications users would suffer.

June 20

PeopleSoft's board votes to recommend that shareholders reject Oracle's revised offer. An Oracle executive tries to reassure PeopleSoft customers that their products would be supported.

June 19

Oracle forges ahead on the product front, releasing an upgraded marketing automation suite. Meantime, PeopleSoft moves ahead with its acquisition of J.D. Edwards.

June 18

Oracle ups the ante for PeopleSoft to $19.50 per share, a sign to many that it truly is serious about the acquisition. The total deal would now be worth $6.3 billion. The state of Connecticut sues Oracle, arguing that the acquisition would hurt the state's economy and drive up prices.

June 13-16

PeopleSoft and J.D. Edwards each file lawsuits against Oracle and alter the terms of their merger agreement. PeopleSoft turns the all-stock deal into a cash/stock combination that would no longer require shareholder approval. Meantime, PeopleSoft launches its first product since the acquisition brouhaha broke out.

June 12

PeopleSoft's board unanimously votes to recommend that shareholders reject the Oracle offer. CEO Craig Conway holds a conference call to reiterate plans to fight the takeover attempt. One study says the deal could pose problems for CRM market leader Siebel.

June 9-11

J.D. Edwards proceeds with its annual user conference, but customers there wonder about the future of its product line. Meantime, industry insiders ponder the implications for the market.

June 6

Oracle launches a hostile takeover bid for PeopleSoft. The move puts PeopleSoft's J.D. Edwards merger on ice. It also causes customer confusion because Oracle says it intends to discontinue PeopleSoft products.

June 2

PeopleSoft and J.D. Edwards announce a $1.7 billion stock deal to merge. PeopleSoft executives hail the deal as shoring up their midmarket strategy.

Dig deeper on CRM and marketing

Pro+

Features

Enjoy the benefits of Pro+ membership, learn more and join.

0 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

SearchBusinessAnalytics

SearchDataManagement

SearchSAP

SearchOracle

SearchAWS

SearchContentManagement

Close